The Presidency has said President Muhammadu Buhari did not sign any loan agreement with the Peoples Republic of China during his one-week working visit to the Asian country.
Special Adviser to the President on Media and Publicity, Femi Adesina, revealed to Punch Newspapers on Saturday, that “there was no loan deal during the President’s visit to China. All that is coming are investments into Nigeria.”
Rather, the presidential spokesperson said Buhari’s trip yielded over $6bn additional investments for Nigeria.
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a statement made available to journalists, said the President is confident that the agreements signed with the Chinese would have a huge impact on key sectors of the Nigerian economy – power, solid minerals, agriculture, housing and rail transportation.
“In the power sector, North South Power Company Limited and Sinohydro Corporation Limited signed an agreement valued at $478,657,941.28 for the construction of 300 Mega Watts solar power in Shiriro, Niger State.”
“In the solid minerals sector, Granite and Marble Nigeria Limited and Shanghai Shibang signed an agreement valued at $55m for the construction and equipping of granite mining plant in Nigeria.”
“A total of $1bn is to be invested in the development of a greenfield expressway for Abuja-Ibadan-Lagos under an agreement reached by the Infrastructure Bank and Sinohydro Corporation Limited.”
“For the housing sector, both companies also sealed a $250m deal to develop an ultra modern 27-storeyed high rise complex and a $2.5bn agreement for the development of the Lagos Metro Rail Transit Red Line project.”
“An agreement valued at $363m for the establishment of a comprehensive farm and downstream industrial park in Kogi State was also announced at the Nigeria-China business forum.”
“Other agreements undergoing negotiations include a $500m project for the provision of television broadcast equipment and a $25m facility for production of pre-paid smart meters between Mojec International Limited and Microstar Company Limited.”
“About 100 Nigerian businesses and 300 Chinese firms participated in the Nigeria-China business forum, which took place a day after President Buhari began his visit to China.”
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I have been reporting on latest news from Nigeria for almost 10 years now. I report on every possible news area I come across, but always ensure my reports are compiled with dignity and fact to uphold my personal values and duty as a journalist
Posted: at 17-04-2016 03:33 PM (9 years ago) | Addicted Hero
morgrawl231 at 17-04-2016 03:48 PM (9 years ago) (m)
Good one there Mr President
Posted: at 17-04-2016 03:48 PM (9 years ago) | Hero
lilchuks28 at 17-04-2016 04:37 PM (9 years ago) (m)
who these people think say we be self?....you mean China of all countries carry $6 billion give you just like that without no loan deal. A country striving to be number one best economy in the world will just give you loan for free because nah Hausa JuJu nah you use..... any way, when the next govt go enter office nah then we go know the real thing wey happen.... but for now I refuse to believe this cooked up lie because am not blind like your brainwashed followers....
Posted: at 17-04-2016 04:37 PM (9 years ago) | Upcoming
concentrate at 17-04-2016 04:44 PM (9 years ago) (m)
"$6b additional investment". apc is big a joke. is it all nigerians that are as daft as their blind followers? when did the chinese people became father christmas that they will give out $6b additional investment for free or has the word "loan" gotten a new name? nonsense
Posted: at 17-04-2016 04:44 PM (9 years ago) | Gistmaniac
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